Berkshire Partners LLC, a Boston-based investment firm, closed its eighth private equity fund, at $4.5bn.
Berkshire Fund VIII’s capital was subscribed by existing institutional investors including large endowments, foundations, pension funds, insurance companies and sovereign wealth funds.
Berkshire focuses on investing $50m to $500m of equity capital in middle market growth companies with acquisition values between $200m and $2bn.
Since inception in 1984, Berkshire has invested in over 100 companies and developed specific industry experience in areas including consumer products and retail, business services, industrial manufacturing, transportation and communications.
The firm’s investment staff includes 46 professionals, who are led by 14 managing directors.